Idaho Oil and Gas Conservation Commission selects new chairman. 

The Idaho Oil and Gas Conservation Commission has selected Kevin Dickey of Emmett to be its chairman. The commission selected Payette County Commissioner Marc Shigeta as vice chairman.

Dickey is a Gem County landowner with more than 30 years of oil and gas operations experience. He most recently worked for Boise-based Petroglyph Energy. He holds a bachelor’s degree in petroleum engineering from the Colorado School of Mines. 

Shigeta has been a Payette County commissioner since 2002. He is a third-generation resident of Payette County and a self-employed row crop farmer in New Plymouth. Shigeta graduated from New Plymouth High School and the University of Idaho with a bachelor’s degree in business and accounting.

Other commissioners include Idaho Department of Lands (IDL) Director Tom Schultz, Dr. Renee Breedlovestrout of Moscow, and James Classen of Boise.

Idaho auctions 59 Priest Lake lots for $29 million. The Idaho Department of Lands (IDL) has auctioned 59 state-owned lakefront lots on Priest Lake for deeded ownership. The land sales generated $29,066,040 for the endowment funds that support public schools.

The Idaho Constitution requires a public auction for the disposal of state endowment trust lands, and IDL can accept no less than the appraised value of the properties.

Fifty-seven of the lots auctioned were leased and have cabins on them. The land is owned by the State of Idaho, and the cabins and other improvements on the land are owned by leaseholders as personal property. The current leaseholders applied to participate in the auction. The auction was for land only on the leased lots.

Under the direction of the State Board of Land Commissioners (Land Board), IDL manages more than 2.4 million acres of state endowment trust land under a constitutional mandate to maximize long term financial returns to public schools and a number of other State of Idaho institutions.

State of Idaho will auction more commercial properties in 2017. The State Board of Land Commissioners has authorized the Idaho Department of Lands (IDL) to offer 10 commercial properties for auction in 2017. The properties are a combination of commercial buildings, parking lots and vacant commercial building lots located in Boise, Meridian and Idaho Falls. 

The auction is set for December at the Courtyard Marriott located at 1789 S. Eagle Road in Meridian. An exact date of the auction will be determined in the coming weeks.

The Land Board's commercial real estate broker, Thornton Oliver Keller (TOK), will market the properties and host a web portal with extensive property information for potential purchasers. Detailed information about the individual properties is available by registering on the TOK client portal, located here: http://tokcommercial.com/CommercialProperties/IDLDisposition2017.aspx*

Land Board boosts payouts for public schools, sets new record for all endowments for FY19. The State Board of Land Commissioners has approved a 6.4-percent year-over- year increase in the fiscal year 2019 payout from the eight endowment funds that support Idaho's public school system, universities and other beneficiaries. Idaho's public school system will receive $50,325,600 in FY19 – 7 percent more than the FY18 distribution.

Other endowment trusts provide long-term support to higher education, state hospitals for the mentally ill, state veterans homes, the Capitol building, the Idaho School for the Deaf and Blind, Idaho's juvenile corrections system, and Idaho's prison system.

The total FY19 distribution to all beneficiaries, amounting to $78,206,400, sets a new record.

The endowment fund that supports Idaho's prison system saw the largest year-over-year increase at 11.6 percent.

The money comes from economic activity on state endowment trust lands - mostly from the sale of timber - and earnings on investments.